SMIC Reports Record 2025 Revenue of $9.33B; Releases Aggressive 2026 Action Plan

Semiconductor Manufacturing International Corporation (SMIC) released its 2025 annual results and 2026 action plan. Revenue reached $9.327 billion for full-year 2025 — up approximately 20.9% year-over-year and a new record — while net profit grew 39% to $685 million and gross margin improved to 21%. The 2026 capital expenditure plan was held flat at approximately $8.1 billion, focused on legacy-node capacity expansion in BCD process, analog circuits, MCUs, and display driver ICs where SMIC faces less international competition. SMIC targets 'above-industry' revenue growth for 2026. The results arrive amid US government allegations that SMIC supplied chipmaking equipment to Iran's military — allegations SMIC has not addressed publicly. TrendForce projects China's domestic share of its AI accelerator chip market will reach 50% in 2026, driven by SMIC-manufactured Huawei Ascend chips displacing Nvidia hardware.